The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-08-14
Horn Silver Stockholders Want an In
Vestigation.

Horn Silver Stockholders Want an In
vestigation.
Local stockholders of the Horn
Silver mine have become sick of the
manner in which the stock is being
depressed in New York, to say nothing
of the:delay on President FranckIyn's
part in accounting for the 5000, 600
assets of the company loaned him ION
call ," and are determined on bringing
matters to a crisis.
The limit of the stockholders patience
was reached during the past few days.
The stock was recently quoted, IS cents
asked; 65 bid; next day it fell to IS
asked; 90 bid On the 8th it suddenly
jumped to IS cents bid with non
offered, which all looks decidedly queer
in view of the unchanged condition of
things-as far as the public know-at
the mine.
There are in the neighborhood of
10000 shares of stock held in this city,
some of the owners being among our
principal monied men and stock opera
tors. OF late, most of these owners, by
mutual agreement, have been sending
their stock on to have it transferred to
their own names, so that they could
have a right to look into the affairs of
the company in which they were
owners.
The bold claims these stockholders
make is first that they suspect the mine
is not being worked for the interest of
all the owners, but for the benefit OF the
officials who are manipulating the stock
on the New York market; second, that
thew think the mine is capable of doing
much better than it is at present doing
if properly worked; third, that the
$500 600 of the company's assets
''loaned on CALI to President Charles G.
should be returned at once
to the treasury.
One of the heaviest local owners and
a prominent capitalist, said to HERALD
reporter yesterday: I'VE have re-
heafediv asked for explanations, inves-
tioations and frequently made threats
of taking legal steps. The last time we
smoke to Manager Hill he said it would
be useless to attempt to fight big
company like the Horn Silver. We pro-
nose to see whether minority stock
holders have not some rights that the
majority are bound to respect. II l
can't look into and know something !
a bout a company in which own stock, |
even if it is only one share it's time L |
knew it, that's all. The $500, 900 that was |
loaned Francklyn and which, by reason
of the control he holds, remains silent |
about, means $3.50 on every share OF
the stock, more than so cents share |
above what the stock could probably be |
bought for to-day. Does it not look |
like they were depressing |
the market for the purpose of buying III |
the stock2 Suppose they got it all for
81 share, no one would then have the |
right to question that $500, 600 loan, and |
you can see what they would make out |
of it. We want to be assured that the |
mine is producing all it is capable OF
producing; and that that $500, 900 cash |
Is safe. If am not very greatly mistaken,
TOO, every director who held office at
that time and who allowed that loan
TO be made can be made liable, and l |
am not sure if the whole thing don't
turn out to be a States prison affair.
At any rate, we have waited long i
enough. Fortunately, the mine and
offices are here in Utah. and l don't
know better man than Judge Zane to |
get the question before, nor better |
time than the present TO get the whole !
hipo aired -